2015-08-18 Planning and Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                     18 AUGUST 2015


CORPORATE SERVICES DEPARTMENT REPORTS
Finance
7                           FINANCIAL PERFORMANCE REPORT JULY 2015
CUMENT INF ORM ATION




Author                              Manager Financial Services, Wayne Jensen
                                    Corporate Services Department

Index                               ECM / Subject / 22.09 – Monthly Exception Report

Attachments                         1.    Statement of Comprehensive Income
                                    2.    Statement of Financial Position
                                    3.    Capital Works Schedule


EXECUTIVE SUMMARY
Financial performance for July is generally in accordance with budget forecasts, with only
moderate variances in some areas, though it is difficult to draw conclusions with only one
month having passed. End of year accounting adjustments have been completed apart from
information relating to Unitywater final results, and will be reviewed by the Audit and Risk
Committee prior to presentation to Queensland Audit Office for their audit. Projects still
under construction within the capital works program will be carried forward into the 2015/16
financial year for completion, and will be the subject of a separate report to the General
Committee.

         Financial Performance Summary
                               Current                           YTD        Variance      Variance    Status
                                  YTD                          Actual            $m           YTD
                               Budget                             $m                            %
                                   $m
         Recurrent Revenue       $34.5                          $34.5              $0.0      0.0%    On track
         Recurrent Expense        $6.8                           $6.1              $0.7     10.8%    On track

         Net Capital Revenue                        $0.1          $0.1             $0.0     12.5%    On track
         Capital Expenditure                        $0.0          $0.1             $0.0        0%     Watch

Financial statements including Statement of Comprehensive Income and Statement of
Financial Position are included as attachments for information of Council.
Figure 1: Actual Performance Compared to YTD Budget
               $40
               $35
               $30
               $25
               $20
               $15
               $10
                       $5
                       $-
                                  YTD Budget ($m)                   YTD Actual ($m)

                                    Operating Revenue      Operating Expenditure




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